Countrywide is being taken over by Bank of America. What a huge company, taken down due to sub prime lending. Additionally, the FBI has just launched an investigation into its lending practices, according to CNN. Beyond just the mortgage crisis, there appears to be a global money and credit crisis. The Fed is expected to [...]
Archive for the ‘foreclosures’ Category
Money supply & real estate
Posted in banking, foreclosures, money, rentals, tagged economy, foreclosures, lending, real estate, underwriting on March 11, 2008 | Leave a Comment »
How will the recession affect the rental market?
Posted in foreclosures, landlord, rentals, small business, tenant, tagged foreclosures, jobs, recession, rental rates, vacancy rates on January 22, 2008 | Leave a Comment »
A global recession will affect every locality. The “credit crunch” that started in July was just a reversion to normal lending standards. When banks don’t want to lend, it is worse.
Typical recessions do the following:
For our tenants/applicant pool:
They lose their jobs
They move back in w/ parents, or join up and share rent
Vacancies increase as demand [...]
Renting to people that lost their home to foreclosure
Posted in foreclosures, landlord, rentals, tenant, tagged Adams County, ARM, foreclosure, housing, rent on December 14, 2007 | Leave a Comment »
For years, we have declined virtually every prospect that was going into foreclosure. It takes quite a bit of effort, as sometimes it seems that up to 50% of our calls are coming from them. Our rental criterion include landlord history and credit. So, they just don’t rate.
Here’s a thought: IF their credit and mortgage [...]
